Buttcoin: backed by gold, comedy gold!

Now, after a little more than two years, the company has packed up and left, abandoning the wells and associated crypto infrastructure in violation of state law, according to state regulators.

Ms Gho said Mr Tan’s other Bitcoin-related proposals – such as Bitcoin baby products – require more money from the Government, adding: “Should this money drop from the sky? Some of the ideas are simply just not practical.”

Despite the hype, EthereumMax lost 93 percent of its value in just two months. In January 2022, ten plaintiffs filed a lawsuit against the company for making false or misleading statements to investors through social-media advertisements that disguised their control over a large percentage of the tokens. “It just stood out as one of the most egregious examples of a crypto scam,” said John Jasnoch, the plaintiffs’ lawyer, when I interviewed him.

“You never want to be in a position where you’re questioning whether your senators are acting in the best interest of their constituents or their own bank account, and he is now in a unique position to help his own personal interests,” Libowitz said.

"So my personal opinion is that the world would have been better without cryptocurrencies."

Looks like people are starting to finally realize that Bitcoin Mining is a money hole.

Market liquidity was one concern, he said, as the central bank needed at all times to be able to buy and sell foreign exchange. Cryptocurrencies also typically exhibit "very, very high" fluctuations in value, Schlegel said, which raised doubts about their ability to maintain the value of the SNB's currency reserves.

On April 22, 2025, the Kuwait Ministry of Interior issued a warning against individuals and entities engaging in cryptocurrency mining activities within Kuwait. This activity is unlicensed and constitutes a clear violation of the country's prevailing laws, specifically:​

Ministry of Interior Kuwait

• Law No. 31 of 1970, amending certain provisions of the Penal Code No. 16 of 1960
• Law No. 37 of 2014, establishing the Communication and Information Technology Regulatory Authority
• Law No. 56 of 1996, concerning the issuance of the Industry Law
• Law No. 33 of 2016, regarding the Municipality of Kuwait​ Ministry of Interior Kuwait

The Ministry emphasized that cryptocurrency mining leads to excessive consumption of electrical energy, resulting in increased loads on the public grid. This can cause power outages affecting residential, commercial, and service areas, posing a threat to public safety and the continuity of essential services.

But no, it's not at all an illegal way to send money to the president

Archive link https://archive.is/9bmg1

cross-posted from: https://lemmy.world/post/28578510

Future of banking is to select a similar drop down and lose all your crypto.

Revolut's deposit instructions say to transfer USDC to it, you have to use a network called Polygon. In his first, successful, deposit Tzoni selected one called "Polygon PoS". In the second deposit, when he tried to transfer 1,500 USDC, he selected a different network - "Polygon (bridged)".

Parents may worry that introducing kids to this ecosystem, even indirectly, could expose them to financial manipulation or loss, even if the parents are the ones in control of the wallet.

Crypto wallets in kids’ shows. We're officially marketing to kids now. Seems like the latest exit liquidity is children.